Avanti Feeds Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2023
November 07, 2023 at 03:16 am EST
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Avanti Feeds Limited reported earnings results for the second quarter and six months ended September 30, 2023. For the second quarter, the company reported sales was INR 12,784.9 million compared to INR 13,220.99 million a year ago. Revenue was INR 13,120.07 million compared to INR 13,485.85 million a year ago. Net income was INR 742.31 million compared to INR 566.15 million a year ago. Basic earnings per share from continuing operations was INR 5.45 compared to INR 4.16 a year ago. Diluted earnings per share from continuing operations was INR 5.45 compared to INR 4.16 a year ago.
For the six months, sales was INR 28,321.47 million compared to INR 28,914.04 million a year ago. Revenue was INR 28,982.44 million compared to INR 29,302.09 million a year ago. Net income was INR 1,806.07 million compared to INR 1,228.8 million a year ago. Basic earnings per share from continuing operations was INR 13.26 compared to INR 9.02 a year ago. Diluted earnings per share from continuing operations was INR 13.26 compared to INR 9.02 a year ago.
Avanti Feeds Limited is an integrated seafood company. Its segments include Shrimp Feed, Processed Shrimp, Power, and Shrimp Hatchery. The shrimp feed is manufactured and marketed to farmers, which is used in aqua culture to grow shrimp. The shrimps are purchased from the farmers and are further processed and exported to various countries. It has installed over four mills of over 3.2 megawatts capacity at Chitradurga, Karnataka. The power generated from windmills is sold to Bangalore Electricity Supply Company Limited (BESCOM) under a power purchase agreement. It has five shrimp feed manufacturing units, two shrimp processing units, a hatchery to produce shrimp larvae and a shrimp culture farm. Its products include raw shrimp, cooked shrimp, and value-added shrimp. Its value-added shrimps include marinated products, breaded products, skewers, and shrimp rings. It provides its products to various markets, such as Europe, Japan, Korea, China, Russia, Canada, and the Middle East.
AVANTI FEEDS LIMITED 
